Altcoins have been staging a significant rally against Bitcoin in the past couple of days. However, Bitcoin’s own gains in May mean they may have trouble maintaining the month’s positive historical trend.
May Historically Altcoins’ Third Best Month Against Bitcoin
According to figures from Binance Research, May has been a good month for altcoins, with an average 18.7% gain against BTC since 2014.
The only better months historically have been March and December, both posting average gains of around 30%. Altcoins have made ground on Bitcoin during May in 3 of the past 5 years, so another win this year would give them a 67% hit rate.
Past 48 Hours Have Seen Some Altcoins Gain 21%
True to form, altcoins have been rallying and rallying hard. Led by charges from Ethereum, Binance Coin, Stellar Lumens, and Litecoin, the past few days have seen many alt coin/BTC pairs turn bullish.
Whilst there have been minor breakouts on individual tokens, we haven’t seen this sort of general trend in the altcoin market for over 9 months….